emagine announces the takeover of Boost IT following the latest acquisition of Allgeier Experts in Germany on October 11. This marks emagine's tenth acquisition in five years and aligns with its ambition to become a leading global business and IT consultancy.
Boost IT provides a full range of professional IT consulting services, supported by 550 full-time IT professionals (IT consultants) and a dedicated team of 50 staff members. Its client portfolio includes globally recognised brands in FMCG, technology services, retail, and e-commerce. Bruno Ribeiro and Nuno Melo founded the company in 2018 with three additional partners, and those two will continue in leadership roles at emagine.
“With the monumental acquisition of Boost IT, we scale our nearshore offering with the fastest-growing company in Portugal and finally create opportunities in the Portuguese-speaking world. Bruno, Nuno, and their team have achieved impressive results in just a few years. Now, we will scale the business in Portugal together under the emagine banner,” says Anders Gratte, Group CEO of emagine.
“We are excited to launch emagine as an influential player in Portugal. emagine's advanced processes and IT systems will improve our attraction of IT talents and elevate our services for businesses. With these opportunities ahead, the future has never looked more promising,” say Bruno Ribeiro and Nuno Melo, CEOs and Co-founders of Boost IT.
Portugal's thriving technology and digital solutions industry attracts international companies seeking skilled IT professionals. This appeal is driven by the country's stable geopolitical and currency conditions, high English proficiency, and a growing pool of IT professionals.
Portugal's thriving Information and Communication Technology industry
The government's strategic investments have facilitated access to qualified technology experts for companies. The national Information and Communication Technology (ICT) Cluster, TICE, reports that the ICT sector generates a total turnover of nearly €19 billion, accounting for 10% of Portugal's GDP. Additionally, the software development market alone was projected to reach €905.7 million by 2023.
“Portugal's dedication to IT aligns seamlessly with emagine's bestshore approach, which aims to make skills placeless by delivering services locally, nearshore, offshore, or remotely, according to our client's preferences. Our new nearshoring hub in Portugal will be crucial in our global expansion, serving both IT talents and international brands,” says Anders Gratte.
The acquisition of Boost IT, including the sister company Hexis Technology Hub, was finalised on December 4, 2024, and integration processes starts immediately.
Boost IT
Boost IT, founded in 2018, has expanded as a substantial IT services provider in Portugal and was featured on Deloitte’s Technology Fast 500 EMEA 2023 list. The company is a full-service IT service provider specialising in digital and data transformation with 500 FTE IT professionals and 50 staff. The sister company, Hexis Technology Hub, has 50 FTE IT professionals.
Boost IT has over 115 clients and works primarily for an international client base from its main office in Lisbon’s tech centre of Parque Nações and an office in Porto. The client portfolio comprises large brand companies and multi-year contracts that account for most of the revenue.
Nexus Capital
Nexus Capital is an investment holding company that previously held the majority stake in Boost IT and Hexis Technology Hub. The group has maintained an investment profile with five Portuguese tech companies employing around 700 professionals.